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Finance Report 2009
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Finance Report 2009

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Finance Report 2009 Finance Report 2009 Presentation Transcript

  • TREASURER’S REPORT
  • EvangelicalCovenantChurch
    TheEvangelical Covenant Church
    NationalCovenantProperties
    Paul
    Carlson
    Partnership
    CovenantPension Plan
    Bethany
    BenefitService
    Covenant TrustCompany
  • Covenant World Relief
    2005 $1,303,000
    2006 $1,315,000
    2007 $1,267,000
    2008 $1,558,000
    2009 $1,016,000
    Total $6,459,000
  • Paul Carlson Partnership
    2005 $ 884,000
    2006 $1,253,000
    2007 $1,186,000
    2008 $ 794,000
    2009 $ 630,000
    Total $4,747,000
  • Haiti Earthquake Relief
    $1,049,000
  • CO
    FOWM
    KB
    PCP
    MISSION & MINISTRY BUDGET
    STMs
    SPE
    PMs
    CWR
    MPs
    Covenant World Relief
    Paul Carlson Partnership
    Project Missionaries
    Short-term Missionaries
    Friends of World Mission
    Kingdom Builders
    Sustaining Pastoral Excellence
    Covenant Orientation
    Mission Projects
    BaseBudget
  • Budget Results
    • Expenses Cuts
    • Mix of Revenues
    • Net +$99,000
  • Bethany Benefit Service
    • New Benefits
    • Vision
    • Group Life at $100,000
    • Enrollment
    • 3% increase
    • 37 new enrollees
    Vision
    Vision
  • Comparable market premium increases
    Cost $avings
    Bethany premium increases
    Medical InsurancePremium Increase
  • 1996-2008Pension Benefit Enhancement
    Total Value$40 Million
  • ($ in thousands)
    Pension Benefits
  • Key Investment Considerations
    • Asset allocation and diversification—improve risk/return relationship
    2009
    1992
  • ($ in millions)
    Assets of Pension Fund
  • AssetsNational Covenant Properties
    ($ in millions)
  • The Loan Sourcefor Covenant Churches
    • Of the churches that have loans, over 80% have loans with NCP
  • 2009 New Church LoansNational Covenant Properties
    In 2009, National Covenant Properties advanced $21,000,000 in new monies to help fund 50 church projects.
  • Assets under ManagementCovenant Trust Company
    ($ in millions)
  • 2009 ResultsCovenant Trust Company
    • New business $11.6 million
    • Distributions $11.6 million
    • % New business to conferences, churches, 41.6%and camps
    • Assets $399.6 million
  • AUDIT REPORT
  • TREASURER’S REPORT